SBA Communications Co. (NASDAQ:SBAC) Sees Large Growth in Short Interest

SBA Communications Co. (NASDAQ:SBAC) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,860,000 shares, an increase of 45.3% from the December 15th total of 1,280,000 shares. Based on an average trading volume of 899,600 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.8% of the shares of the stock are sold short.

SBA Communications Price Performance

NASDAQ SBAC traded down $0.57 on Friday, hitting $203.61. The stock had a trading volume of 697,677 shares, compared to its average volume of 859,782. SBA Communications has a 52-week low of $183.64 and a 52-week high of $252.64. The business’s fifty day moving average price is $211.71 and its 200 day moving average price is $221.07. The stock has a market cap of $21.89 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 0.68 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. During the same quarter last year, the firm earned $3.34 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that SBA Communications will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were given a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Thursday, November 14th. SBA Communications’s payout ratio is currently 61.83%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

A number of institutional investors have recently bought and sold shares of the stock. True North Advisors LLC lifted its stake in shares of SBA Communications by 1,112.3% during the fourth quarter. True North Advisors LLC now owns 10,159 shares of the technology company’s stock worth $2,070,000 after buying an additional 9,321 shares during the period. Janney Montgomery Scott LLC increased its position in shares of SBA Communications by 35.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,476 shares of the technology company’s stock valued at $1,116,000 after acquiring an additional 1,435 shares during the period. SG Americas Securities LLC raised its stake in SBA Communications by 159.0% in the 4th quarter. SG Americas Securities LLC now owns 43,509 shares of the technology company’s stock worth $8,867,000 after acquiring an additional 26,710 shares during the last quarter. Cetera Trust Company N.A lifted its position in SBA Communications by 22.6% during the 4th quarter. Cetera Trust Company N.A now owns 1,140 shares of the technology company’s stock worth $232,000 after acquiring an additional 210 shares during the period. Finally, Park Place Capital Corp lifted its position in SBA Communications by 247.0% during the 4th quarter. Park Place Capital Corp now owns 2,356 shares of the technology company’s stock worth $480,000 after acquiring an additional 1,677 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on SBAC. JPMorgan Chase & Co. raised their price objective on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Monday. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. The Goldman Sachs Group raised their target price on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Finally, Barclays lowered their price target on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a research report on Monday. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and an average price target of $254.77.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.